Perry Real Estate Final Exam Exam Newest 2025 Actual Exam Complete Questions And
Correct Answers(Verified Answers)|Already Graded A+
Anti-Trust - (answer)An area of law concerned with maintaining competition in private markets by
prohibiting any restraint on trade.
Georgia Real Estate Commission - (answer)Pass rules and regulations that govern real estate licensees
Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) - (answer)A federal
law enacted by Congress in 1980 to create a tax on the chemical and petroleum industries and provided
broad authority to respond directly to releases or threatened releases of hazardous substances that may
endanger public health or the environment. Also known as Superfund.
Home Rule - (answer)In Georgia, this rule allows a county or municipality legislative power to adopt
reasonable ordinances and regulations including, but not limited to, property affairs, and local
government for which no provision is in place.
Georgia Uniform Deceptive Trade Practices Act (UDTPA) - (answer)A real estate anti-trust law focused
on price fixing and collusion between brokers
Homestead Exemption - (answer)refers to a property tax reduction available to a homeowner/occupant
who files for the deduction within the tax jurisdiction's specified time limit.
Georgia Fair Housing - (answer)Law that guards against a licensee, either by direct response or by
implication, suggesting that information regarding protected classes is ever used by a broker or
salesperson to search for property or to evaluate the demographics of an area.
License law in Georgia requires brokers to deposit transactional funds into a trust account: -
(answer)Promptly unless the contract states otherwise
A real estate license would automatically be revoked under which of the following circumstances? -
(answer)Once any money is paid out from the Recovery Fund as the result of a licensee's actions, the
real estate license will be AUTOMATICALLY revoked.
,Perry Real Estate Final Exam Exam Newest 2025 Actual Exam Complete Questions And
Correct Answers(Verified Answers)|Already Graded A+
All Georgia real estate offices must: - (answer)License law requires brokers to keep transactional records
for at least three years
The statute of frauds... - (answer)must be in writing to avoid fraud and misunderstanding.
Regarding trust accounts and real estate brokerage offices in Georgia, all of the following statements are
true EXCEPT: - (answer)Only brokerage offices that choose to handle trust funds need open these
accounts.
As an inducement to acquire listings, a broker advertises that he will buy any property he lists if that
property does not sell in 120 days. Would this type of promise be a violation of license law in Georgia? -
(answer)The plan is not a violation of real estate law in Georgia as long as two contracts are created at
the same time: one, a purchase and sale commitment from the broker for a specific price on a specific
date; and two, a listing contract between seller and broker.
The statute of limitations... - (answer)Puts a time limit on filing real estate actions.
Which of the following is NOT true regarding Georgia's Fair Business Practice Act (FBPA)? - (answer)The
FBPA involves real estate anti-trust violations and may be invoked only if a specific transaction has taken
place. This act primarily involves a narrow focus of deceptive advertising.
Before being granted an active salespersons license, an applicant must - (answer)Georgia Real Estate
Exam after completing the required course and have a broker to work for.
A real estate listing is an agreement between - (answer)The broker and the Owner. The owner is the
client of the broker who is the agent.
If a broker submits a contract to a lender that is different from the binding agreement signed by the
buyer and seller: - (answer)his type of situation involves mortgage fraud; the broke
, Perry Real Estate Final Exam Exam Newest 2025 Actual Exam Complete Questions And
Correct Answers(Verified Answers)|Already Graded A+
The law will act to end a listing agreement if, - (answer)If the broker dies, the house burns down, or if
the owner declares bankruptcy.
The Georgia Real Estate Commission might revoke a broker's license in all of the following circumstances
EXCEPT: - (answer)Negotiation of commission rates is always permissible and is not a violation of license
law; however, the Commission does have authority to revoke the license of a broker convicted of a
felony or engaged in false advertising or the commingling of funds.
A salesperson refers a home seller to the Acme Pest Control Company to obtain a contractually required
termite letter. The salesperson has a longstanding relationship with this company and Acme Pest
Control pays the salesperson a fee for every customer referral. Would this payment be a violation of
license law in Georgia? - (answer)Yes, A salesperson may only receive payments from the employing
broker and, in this situation, the employing broker could not receive compensation from a non-licensee.
One who sells real estate for others - (answer)Hold an active real estate license in the State of Georgia.
Home and subdivision developers in Georgia have in recent years been subject to certain regulatory fees
they must factor into their building costs. With regard to these costs: - (answer)Impact fees are fees
imposed by local jurisdictions to pay for such things as utilities, roads, schools, and other services that
an increase in population and traffic will bring.
A Georgia resident dies without a will and is survived by his wife and four children. The couple has
community property worth $250,000 and the husband has a separate estate of $300,000. How will this
estate be distributed? - (answer)Divided by intestate succession. As Georgia does not recognize
community property law, the estate will be distributed by the laws of descent and distribution under
intestate succession.
A home seller has sued her listing agent for fraud and the court has awarded the plaintiff a judgment in
the amount of $50,000. However, the plaintiff was only able to collect $25,000 from the assets of the
licensee. In this situation, what would be the maximum amount that this individual could expect from
the Real Estate Education, Research, and Recovery Fund? - (answer)$25,000 No individual may ever
collect more than $25,000 from the Fund. Also, no more than $25,000 may ever be paid out for
misdeeds in a single transaction.
Correct Answers(Verified Answers)|Already Graded A+
Anti-Trust - (answer)An area of law concerned with maintaining competition in private markets by
prohibiting any restraint on trade.
Georgia Real Estate Commission - (answer)Pass rules and regulations that govern real estate licensees
Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) - (answer)A federal
law enacted by Congress in 1980 to create a tax on the chemical and petroleum industries and provided
broad authority to respond directly to releases or threatened releases of hazardous substances that may
endanger public health or the environment. Also known as Superfund.
Home Rule - (answer)In Georgia, this rule allows a county or municipality legislative power to adopt
reasonable ordinances and regulations including, but not limited to, property affairs, and local
government for which no provision is in place.
Georgia Uniform Deceptive Trade Practices Act (UDTPA) - (answer)A real estate anti-trust law focused
on price fixing and collusion between brokers
Homestead Exemption - (answer)refers to a property tax reduction available to a homeowner/occupant
who files for the deduction within the tax jurisdiction's specified time limit.
Georgia Fair Housing - (answer)Law that guards against a licensee, either by direct response or by
implication, suggesting that information regarding protected classes is ever used by a broker or
salesperson to search for property or to evaluate the demographics of an area.
License law in Georgia requires brokers to deposit transactional funds into a trust account: -
(answer)Promptly unless the contract states otherwise
A real estate license would automatically be revoked under which of the following circumstances? -
(answer)Once any money is paid out from the Recovery Fund as the result of a licensee's actions, the
real estate license will be AUTOMATICALLY revoked.
,Perry Real Estate Final Exam Exam Newest 2025 Actual Exam Complete Questions And
Correct Answers(Verified Answers)|Already Graded A+
All Georgia real estate offices must: - (answer)License law requires brokers to keep transactional records
for at least three years
The statute of frauds... - (answer)must be in writing to avoid fraud and misunderstanding.
Regarding trust accounts and real estate brokerage offices in Georgia, all of the following statements are
true EXCEPT: - (answer)Only brokerage offices that choose to handle trust funds need open these
accounts.
As an inducement to acquire listings, a broker advertises that he will buy any property he lists if that
property does not sell in 120 days. Would this type of promise be a violation of license law in Georgia? -
(answer)The plan is not a violation of real estate law in Georgia as long as two contracts are created at
the same time: one, a purchase and sale commitment from the broker for a specific price on a specific
date; and two, a listing contract between seller and broker.
The statute of limitations... - (answer)Puts a time limit on filing real estate actions.
Which of the following is NOT true regarding Georgia's Fair Business Practice Act (FBPA)? - (answer)The
FBPA involves real estate anti-trust violations and may be invoked only if a specific transaction has taken
place. This act primarily involves a narrow focus of deceptive advertising.
Before being granted an active salespersons license, an applicant must - (answer)Georgia Real Estate
Exam after completing the required course and have a broker to work for.
A real estate listing is an agreement between - (answer)The broker and the Owner. The owner is the
client of the broker who is the agent.
If a broker submits a contract to a lender that is different from the binding agreement signed by the
buyer and seller: - (answer)his type of situation involves mortgage fraud; the broke
, Perry Real Estate Final Exam Exam Newest 2025 Actual Exam Complete Questions And
Correct Answers(Verified Answers)|Already Graded A+
The law will act to end a listing agreement if, - (answer)If the broker dies, the house burns down, or if
the owner declares bankruptcy.
The Georgia Real Estate Commission might revoke a broker's license in all of the following circumstances
EXCEPT: - (answer)Negotiation of commission rates is always permissible and is not a violation of license
law; however, the Commission does have authority to revoke the license of a broker convicted of a
felony or engaged in false advertising or the commingling of funds.
A salesperson refers a home seller to the Acme Pest Control Company to obtain a contractually required
termite letter. The salesperson has a longstanding relationship with this company and Acme Pest
Control pays the salesperson a fee for every customer referral. Would this payment be a violation of
license law in Georgia? - (answer)Yes, A salesperson may only receive payments from the employing
broker and, in this situation, the employing broker could not receive compensation from a non-licensee.
One who sells real estate for others - (answer)Hold an active real estate license in the State of Georgia.
Home and subdivision developers in Georgia have in recent years been subject to certain regulatory fees
they must factor into their building costs. With regard to these costs: - (answer)Impact fees are fees
imposed by local jurisdictions to pay for such things as utilities, roads, schools, and other services that
an increase in population and traffic will bring.
A Georgia resident dies without a will and is survived by his wife and four children. The couple has
community property worth $250,000 and the husband has a separate estate of $300,000. How will this
estate be distributed? - (answer)Divided by intestate succession. As Georgia does not recognize
community property law, the estate will be distributed by the laws of descent and distribution under
intestate succession.
A home seller has sued her listing agent for fraud and the court has awarded the plaintiff a judgment in
the amount of $50,000. However, the plaintiff was only able to collect $25,000 from the assets of the
licensee. In this situation, what would be the maximum amount that this individual could expect from
the Real Estate Education, Research, and Recovery Fund? - (answer)$25,000 No individual may ever
collect more than $25,000 from the Fund. Also, no more than $25,000 may ever be paid out for
misdeeds in a single transaction.
